OLD National Bancorp IN Buys 7,583 Shares of Abbott Laboratories (NYSE:ABT)

OLD National Bancorp IN boosted its stake in Abbott Laboratories (NYSE:ABT) by 6.9% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 117,685 shares of the healthcare product maker’s stock after purchasing an additional 7,583 shares during the quarter. OLD National Bancorp IN’s holdings in Abbott Laboratories were worth $13,417,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ABT. Vanguard Group Inc. boosted its stake in Abbott Laboratories by 5.6% during the 1st quarter. Vanguard Group Inc. now owns 165,301,921 shares of the healthcare product maker’s stock worth $18,788,216,000 after acquiring an additional 8,834,840 shares during the last quarter. Capital International Investors boosted its position in shares of Abbott Laboratories by 9.1% during the first quarter. Capital International Investors now owns 70,177,564 shares of the healthcare product maker’s stock worth $7,976,382,000 after purchasing an additional 5,882,780 shares in the last quarter. Swedbank AB acquired a new position in shares of Abbott Laboratories in the 1st quarter valued at $341,777,000. Sessa Capital IM L.P. bought a new stake in shares of Abbott Laboratories in the 2nd quarter valued at $264,876,000. Finally, Assenagon Asset Management S.A. lifted its holdings in Abbott Laboratories by 493.1% during the second quarter. Assenagon Asset Management S.A. now owns 2,401,190 shares of the healthcare product maker’s stock worth $249,508,000 after acquiring an additional 1,996,320 shares in the last quarter. Institutional investors and hedge funds own 75.18% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ABT shares. Citigroup increased their price target on Abbott Laboratories from $119.00 to $127.00 and gave the stock a “buy” rating in a report on Thursday, August 22nd. Royal Bank of Canada raised their target price on shares of Abbott Laboratories from $125.00 to $130.00 and gave the stock an “outperform” rating in a report on Tuesday, October 8th. Piper Sandler increased their price objective on shares of Abbott Laboratories from $131.00 to $133.00 and gave the stock an “overweight” rating in a research report on Thursday. Sanford C. Bernstein boosted their price objective on shares of Abbott Laboratories from $133.00 to $138.00 and gave the company an “outperform” rating in a research report on Thursday. Finally, Jefferies Financial Group increased their target price on Abbott Laboratories from $120.00 to $125.00 and gave the stock a “hold” rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $129.67.

Abbott Laboratories Trading Up 1.3 %

NYSE ABT opened at $119.39 on Friday. Abbott Laboratories has a 12 month low of $91.64 and a 12 month high of $121.64. The company has a current ratio of 1.68, a quick ratio of 1.18 and a debt-to-equity ratio of 0.33. The stock has a 50 day moving average of $113.97 and a 200-day moving average of $108.50. The company has a market cap of $207.69 billion, a PE ratio of 37.19, a PEG ratio of 2.74 and a beta of 0.72.

Abbott Laboratories (NYSE:ABT) last announced its quarterly earnings results on Wednesday, October 16th. The healthcare product maker reported $1.21 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.01. The firm had revenue of $10.64 billion during the quarter, compared to analysts’ expectations of $10.55 billion. Abbott Laboratories had a net margin of 13.65% and a return on equity of 20.18%. The company’s revenue for the quarter was up 4.9% compared to the same quarter last year. During the same quarter last year, the company posted $1.14 earnings per share. On average, equities research analysts anticipate that Abbott Laboratories will post 4.66 EPS for the current fiscal year.

Abbott Laboratories Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 15th. Stockholders of record on Tuesday, October 15th will be paid a dividend of $0.55 per share. The ex-dividend date of this dividend is Tuesday, October 15th. This represents a $2.20 annualized dividend and a dividend yield of 1.84%. Abbott Laboratories’s dividend payout ratio is currently 68.54%.

Insider Buying and Selling

In other Abbott Laboratories news, CEO Robert B. Ford sold 141,679 shares of Abbott Laboratories stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $116.41, for a total transaction of $16,492,852.39. Following the completion of the transaction, the chief executive officer now directly owns 220,059 shares of the company’s stock, valued at $25,617,068.19. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.10% of the stock is owned by insiders.

Abbott Laboratories Profile

Abbott Laboratories, together with its subsidiaries, discovers, develops, manufactures, and sells health care products worldwide. It operates in four segments: Established Pharmaceutical Products, Diagnostic Products, Nutritional Products, and Medical Devices. The company provides generic pharmaceuticals for the treatment of pancreatic exocrine insufficiency, irritable bowel syndrome or biliary spasm, intrahepatic cholestasis or depressive symptoms, gynecological disorder, hormone replacement therapy, dyslipidemia, hypertension, hypothyroidism, Ménière’s disease and vestibular vertigo, pain, fever, inflammation, and migraine, as well as provides anti-infective clarithromycin, influenza vaccine, and products to regulate physiological rhythm of the colon.